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Weekly forecast British Pound / US Dollar technical chart
Symbol GBPUSD

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateDecember 29, 2018 - 17:42
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1.26600 would begin in Midterm.

Technical analysis:

  • The RSI bounced from the support #1 at 31 and it prevented price from more losses.
  • The RSI downtrend #2 is broken, so the probability of beginning of uptrend is increased.
  • A peak is formed in daily chart at 1.2725 on 11/15/2018, so more losses minimum to Major Support (1.2660) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 49.

Supports and Resistances:

  1. 1.4345
  2. 1.3970
  3. 1.3655
  4. 1.3430
  5. 1.3200
  6. 1.3040
  7. 1.2920
  8. 1.2775
  9. 1.2345
  10. 1.2155
  11. 1.1990
Click on the level to view price action history.

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